FXstreet.com (Barcelona) - The Canadian Dollar has been fueled by the better than expected November unemployment rate in Canada with the USD/CAD collapsing around 75 pips in the minutes following the data from 1.0555 to break MA200 hourly at 1.0540, MA55 hourly at 1.0510 and hit 1.0475 as fresh intra-day high.

Currently the pair is trading at low levels, around 1.0475/85, 0.80% below today's opening price action at 1.0572.

Statistics Canada has published the November unemployment rate at 8.5%, a decline from October 8.6% and against the market expectations of increase to 8.7%. The change in employment has been an increase of almost 80.000 jobs between October and November, well above 15.300 expected by market.

.